Hong Kong Law
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HKEx Concludes on Proposed Amendments to Listing Rules Relating to Share Schemes of Listed Issuers and Housekeeping Rule Amendment
The HKEx has concluded on its proposals to amend the Listing Rules relating to Share Schemes of Listed Issuers and Housekeeping Rules. Major changes include extending Chapter 17 to govern share award schemes
HKEx and SFC Disciplinary Actions June and July 2022
HKEx and SFC Disciplinary Actions in June and July 2022 include CES Capital for failure as investment manager in Hong Kong and Lam Ki Fung for fraudulently obtaining his quarterly incentive payment in Hong Kong
Hong Kong Registration Regime for Dealers in Precious Metals and Stones to Take Effect on 1 January 2023
Any person carrying on DPMS in Hong Kong will need to be registered or cease operations in Hong Kong. The Amendment Bill contains transitional provisions for DPMS carrying on business in Hong Kong before 1 January 2023.
HKEx and SFC Disciplinary Actions in May 2022
HKEx and SFC concluded disciplinary actions in May 2022 resulting in an order for the organisers of a global Ponzi scheme to compensate HK investors and the sanctioning of listed companies and their directors
SFC Proposes Significant Amendments to SFO Enforcement Regime
The SFC has proposed significant amendments to the SFO to: allow it to seek investor compensation orders against regulated persons; narrow the ss 103(j) & (k) exemptions; & broaden the insider dealing regime
Hong Kong Licensing Regime for Virtual Asset Exchanges to Take Effect on 1 March 2023
Any person operating a VA exchange in Hong Kong will need to apply for a VASP licence or cease operations in Hong Kong. The Amendment Bill contains transitional provisions for operators of VA exchanges carrying on business in Hong Kong before 1 March 2023
ETF Trading Under Stock Connect to Commence 4 July 2022
The HKEx releases circular on the 4 July 2022 launch of the inclusion of ETFs in the Stock Connect. The CSRC and SFC approves ETFs in Stock Connect and the initial list of eligible ETFs has been published
SFC and HKEx Disciplinary Actions in April 2022
The Hong Kong regulatory enforcement actions concluded in April 2022 included the Takeovers Executive’s public criticism of two former directors for breach of the SFC Takeovers Code’s no frustrating actions rule
ETFs to be included in Hong Kong-China Stock Connect
The CSRC and SFC announced plans to allow eligible exchange-traded funds (ETFs) by Mainland and Hong Kong exchanges in Stock Connect. Implementation of the proposed arrangements will come in about two months.
HKEx Listing Rule Amendments reflect New SFC Code of Conduct Provisions for Issuers and Intermediaries involved in Bookbuilding and Placing Activities
HKEx published an information paper on listing rule amendments complementing new SFC Code of Conduct provisions for issuers & intermediaries conducting bookbuilding and placing activities, effective 5.08.2022
SFC Releases End-To-End Test Packages and File Transfer Connectivity Guide for the Hong Kong Investor Identification Regime
SFC releases the end-to-end test packages and file transfer connectivity guide for the Hong Kong Investor Identification Regime (HKIDR), for the preparation work for the mandatory E2E test in mid-May and June 2022
HKEx and SFC Disciplinary Actions in March 2022
In March 2022, the HKEx announced the results of a disciplinary action against former directors of a Chapter 21-listed investment company and the SFC published the outcomes of 4 disciplinary actions.